Global Grow Light Market to Reach USD 9.4 Billion by 2033, Bolstered by Significant Growth in the Agriculture Sector

November 19, 2024 | Electronics and Semiconductors

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The latest report by IMARC Group, titled “Grow Light Market Report by Technology (HID, LED, Fluorescent, and Others), Installation Type (New Installations, Retrofit Installations), Spectrum (Full-Spectrum, Partial Spectrum), Application (Indoor Farming, Vertical Farming, Commercial Greenhouse, Turf and Landscaping, and Others), and Region 2025-2033,” finds that the global grow light market size reached USD 4.8 Billion in 2024. A grow light, or plant light, refers to an artificial source of light that is used to stimulate plant growth. It makes use of fluorescent, incandescent, and high-intensity discharge lamps that emit light suitable for performing photosynthesis. Grow lights promote plant growth as they supplement sunlight, color, and temperature to the plants and can also be customized according to specific needs such as flowering inhibition, anthocyanin accumulation, and enhanced rooting. As a result, grow lights find application in indoor farming, landscaping, as well as research and commercial greenhouses.

Global Grow Light Market Trends:

The market is primarily driven by the rapid growth of the agriculture sector. Besides this, the rising adoption of vertical and indoor farming practices is also contributing to the market growth as grow lights decrease the risk of damage caused by pests and insects and reduce the use of harmful pesticides. Grow lights also provide enhanced energy efficiency, versatility, color quality and increased cost competitiveness as compared to conventional lighting technologies. In addition to this, governing authorities are supporting the trend of indoor farming due to the rising awareness regarding their environmental benefits. As a result, there has been an increased demand for grow lights across the globe. Furthermore, the increasing demand for food due to the limited availability of arable land and the rising shift from traditional farming practices toward commercial greenhouse cultivation are also significantly impacting the market growth. Moreover, the development of smart grow lights integrated with the Internet of Things (IoT) is anticipated to create a favorable market outlook. Looking forward, the market value is expected to reach USD 9.4 Billion by 2033, exhibiting a CAGR of 7.9% during the forecast period (2025-2033).

Market Summary:

Based on technology, the market has been segmented into HID, LED, fluorescent, and others.
On the basis of the installation type, the market has been classified into new and retrofit installations.
The market has been categorized based on the spectrum into full- and partial spectrum.
On the basis of the application, the market has been segregated into indoor farming, vertical farming, commercial greenhouse, turf and landscaping, and others.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates, and others).
The competitive landscape of the market has been examined, with some of the key players being ams-OSRAM AG, California LightWorks, Epistar Corporation (Ennostar Inc.), Everlight Electronics Co., Ltd., Gavita International B.V., GE Lighting (Savant Systems Inc.), Heliospectra AB, Hortilux Schréder (Dool Industries), Signify Holding, Valoya Inc. (Greenlux Lighting Solutions), etc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Technology, Installation Type, Spectrum, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates
Companies Covered	ams-OSRAM AG, California LightWorks, Epistar Corporation (Ennostar Inc.), Everlight Electronics Co., Ltd., Gavita International B.V., GE Lighting (Savant Systems Inc.), Heliospectra AB, Hortilux Schréder (Dool Industries), Signify Holding, Valoya Inc. (Greenlux Lighting Solutions), etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Grow Light Market to Reach USD 9.4 Billion by 2033, Bolstered by Significant Growth in the Agriculture Sector

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